ISM3004 EXAM 1 (SCAVENGER HUNT 1-3)
169 QUESTIONS WITH ACTUAL ANSWERS!!
What is disruption? Answer - "To cause something to be unable to continue in its normal routine" this can be either a treasure or a tumult Technology is a disruptor - what does that mean? Answer - Tech creates both treasure and tumult. These disruptions will accelerate, impact organizations, careers, and job functions throughout your lifetime.Technology has caused normal routines to change completely Advertising Answer - print ads are practically out, Google alone has more ad revenue than all of print Causing the trust of ads to decrease Education Answer - Online classes/Universities are taking away from the "traditional" schooling Financial Services Answer - Majority of banking can be done via apps Credit Card Machine - "Square" Journalism Answer - Professional writers aren't being hired by news companies, because they hire external bloggers 1 / 4
Wikileaks Retail Answer - Traditional stores taking a hit by online shopping companies Share Economy Answer - Alternative ways to hotels, music, rental cars, taxis For video rentals, music industry, and higher education be able to explain...What was the normal way of doing business? Answer - Go to a brick and mortar store like Blockbuster, which included uncertainty, long lines, and late fees For video rentals, music industry, and higher education be able to explain...What was the tech change? Answer - Netflix came with "same but different" change. It implemented highly efficient distribution centers which shipped and received videos. Their entire catalogue and recommendations were all on their website.The way the content was delivered changed. Netflix recognized that CD's weren't the future, so changed to streaming media across the internet What was the treasure outcome for some and what was the tumult outcome for others?
Video Rentals Answer - Treasure Outcome: Netflix
Tumult Outcome: Blockbuster 2 / 4
Netflix is one of the highest grossing streaming platforms and Blockbuster only has one store left globally What was the treasure outcome for some and what was the tumult outcome for others?
Music Industry Answer - Treasure Outcome: Digital music platforms (iTunes,
Spotify)
Tumult Outcome: Physical music
But in terms of whole album sales, physical music is the treasure and digital music is the tumult because most people don't digitally buy an entire album, they usually only buy a single song What was the treasure outcome for some and what was the tumult outcome for others?Higher Education Answer - This is both a treasure and tumult for the universities that are willing to adapt to changes in technology because it allows them to have more students no matter where the students are; however, it also means that there may be a time where physical universities are only available to people who are well off or won't exist at all.Be able to define the term "share economy" and give an example.Share Economy Answer - Refers to a phenomenon whereby asset owners can use digital clearinghouses to rent the unused capacity of assets they own and consumers rent from their peers rather than buying or renting from a company 3 / 4
How does IT bring asset owners and consumers together in the share economy? Answer - By using Digital Clearinghouses to rent from their peers instead of companies.How is the share economy disruptive? Answer - It disrupts the new normal between consumers and rental businesses.
Briefly explain four key factors causing these disruptions:
Moore's Law ...and who is the tech pioneer who proposed Moore's Law? Answer - The observation that computing power roughly doubles every two years at the same price Gordan Moore (Intel co-founder)
Briefly explain four key factors causing these disruptions:
Moore's Law Be able to explain what Moore's Law says. Answer - Every 2 years, the abilities of our electronic devices will double while staying at approximately the same price as time goes on This also means that a device that has a constant amount of abilities or power will be twice as cheap every 2 years Briefly explain four key factors causing these disruptions:
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